Multiple Choice
Which statement is correct concerning commercial letters of credit?
A) A letter of credit is not a negotiable instrument, and the contract of sale between the buyer and seller is independent of the letter of credit
B) A letter of credit is not a negotiable instrument, and the contract of sale between the buyer and seller is dependent of the letter of credit
C) A letter of credit is a negotiable instrument, and the contract of sale between the buyer and seller is independent of the letter of credit
D) A letter of credit is a negotiable instrument, and the contract of sale between the buyer and seller is dependent on the letter of credit
Correct Answer:
Verified
Correct Answer:
Verified
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